Although Electronic Arts’ acquisition of Swedish-headquartered developers Digital Illusions CE (DICE), creators of the
Battlefield online action series, was
largely assumed to be a formality, a number of shareholders have moved to block the deal.
According to reports on a Swedish financial news site, and despite recommendations from DICE’s board of directors, shareholders representing 28 percent of the firm’s stock have rejected the proposal, with Swedish law requiring 90 percent of shareholders to be in favor before a deal can be made.
The rebellious shareholders claim that the developer, which also has offices in Canada and New York, is strong enough to remain independent and prosper in the future, citing the likely success of future titles
Battlefield: Modern Combat and
Battlefield 2.
Electronic Arts currently owns 19 percent of the developer, but moved to acquire the company in its entirety earlier in the year. However, the acquisition must be successfully concluded by December 27th, and the final outcome of the recalcitrant shareholders' stand-off will become clear at that point.
